In a move to broaden their reach to the small-to medium-size lender market Fiserv has acquired Del Mar Database, San Diego, the two companies said.Del Mar will continue to be run independently with no management changes, according to John Walsh, Del Mar Database president. Mr. Walsh said the acquisition will "add a lot of credibility to Del Mar." Leslie Muma, Fiserv president and chief executive officer, said the acquisition is a key milestone in the company's goal of "building the most complete technology solution for the lending industry." The actual price and terms of the deal were undisclosed. Del Mar can be found on the Web at http://www.delmard.com.
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Fewer consumers applied for government-backed loans last week, with average interest rates for Federal Housing Administration loans stuck in the high 6% range.
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Broward County in Florida has the highest property tax increase since 2019, at 56.80%.
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Cases involving accusations of redlining, kickbacks, underpaid employees and more swept across the mortgage industry in recent months.
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Submit your production volume from last year to be considered among the top in your field. The deadline for submissions is Feb. 28, so don't dally!
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Fees falling outside of tolerances cost the industry more than $1 million per 1,000 loans, according to an ICE Mortgage Technology study from earlier this year.
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The Consumer Financial Protection Bureau released a proposed version of the consent order on Jan. 17 and the company involved said it was finalized that day.
January 21